March 24 (Reuters) - Cooper Tire & Rubber Co:
* Entered settlement agreement with Cooper Standard Holdings to resolve an
adversary proceeding in bankruptcy court
* Says settlement agreement is the result of litigation that began on August 3,
2009
* CSA will then become obligated under the settlement agreement to pay the
company approximately $17.6 million
* Says co has no obligation for any payments made under pension plan covering
certain employees of a former subsidiary
* Says company intends to pursue post-verdict relief, including appeal
* Says on March 19 it received an adverse jury verdict in a trial in the Iowa
district court for Polk county
* Says jury found it was liable for a vehicle accident allegedly caused by tire
failure involving tread separation
* Says jury awarded damages of approximately $33 million
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))
(For more news, please click here) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Entered settlement agreement with Cooper Standard Holdings to resolve an
adversary proceeding in bankruptcy court
* Says settlement agreement is the result of litigation that began on August 3,
2009
* CSA will then become obligated under the settlement agreement to pay the
company approximately $17.6 million
* Says co has no obligation for any payments made under pension plan covering
certain employees of a former subsidiary
* Says company intends to pursue post-verdict relief, including appeal
* Says on March 19 it received an adverse jury verdict in a trial in the Iowa
district court for Polk county
* Says jury found it was liable for a vehicle accident allegedly caused by tire
failure involving tread separation
* Says jury awarded damages of approximately $33 million
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))
(For more news, please click here) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
© 2010 AFX News
